# Forecasting

Forecasting is not to clear to me, how do I get started?

Given the following data on hotel check-ins for a 6-month period:

Month Number of rooms

July 70

August 105

September 90

October 120

November 110

December 115

a. What is the 3-month moving average for January?

b. What is the 5-month moving average for January?

9. Recent actual and forecasted data for product XYZ is given in the following table.

Month Actual Demand 3-month Forecasted Demand

May 35 25

June 31 30

July 48 33

August 41 38

Determine the MSE, MAD, cumulative error and average error.

10. The following table summarizes data between money spent on gambling and winnings for Robert.

Money Spent Money Won

x y

12 62

10 54

16 86

18 100

15 80

10 57

5 26

12 60

22 105

25 140

Develop a linear regression equation for these data and forecast how much money Robert will win if he spends $30.

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#### Solution Summary

The solution contains several forecasting problems using moving average method and regression analysis.